National Bank Holdings' stock buyback could hit 30%

National Bank Holdings Corp. -- parent company of Bank Midwest and Community Banks of Colorado -- has repurchased 19 percent of its outstanding common stock since late 2012, and now it's boosting that effort further.

The board of Greenwood Village-based NBH (NYSE: NBHC) has authorized $50 million for a new share-buyback program.

The company has repurchased about 10 million shares of its common stock since late 2012, or about 19 percent of its 42.42 million outstanding shares. Its most recent repurchasing program, announced in January, also authorized $50 million, and so far the company used $49.4 million of that amount to make repurchases.

At the current price of $19.49 a share, an additional $50 million would bring the total share repurchasing effort to about 30 percent of outstanding shares.

The company, formed in Boston in 2009 specifically to buy troubled community banks, scooped up two Colorado banks that failed in 2011. The next year, NBH moved its headquarters to Greenwood Village from Boston, and went public.